Pinault family considers selling its 29% ownership in Puma; stock prices increase

After Bloomberg reported on Monday that the French Pinault family’s holding company is assessing options for its 29% stake in the German sportswear maker, including seeking potential buyers, shares of Puma SE increased.

Artemis, Pinault’s holding company that oversees Kering (the owner of Gucci) and various firms in the luxury, arts, and entertainment industries, has come under greater investor scrutiny as it aims to diversify investments while facing a significant debt burden from its portfolio.

A representative for Artemis, which is Puma’s largest shareholder, refused to provide a comment. Puma did not provide an immediate response to a request.

Puma’s shares, which have depreciated over 60% in the last two years, increased by 18% at 13:53 GMT.

According to Bloomberg’s report, which referenced sources that were not named, the Pinaults were collaborating with advisers to assess options for the asset and had reached out to prospective buyers.

According to Puma’s market capitalization provided by LSEG, the stake amounts to around €800 million ($936.56 million), not accounting for Monday’s price increase.